Page 20 - Tata Group

Tata Hitachi has localisation as top priority, to invest Rs 200cr in FY25

Tata Hitachi Construction Machinery on Tuesday announced that it would invest Rs 200 crore in its two manufacturing plants to stay ahead of the curve in quality, innovation and localisation. The company, a 40:60 joint venture between Tata and Hitachi of Japan, aims at ramping up localisation levels to 70 per cent over the next 2-3 years, its Managing Director Sandeep Singh said. The company plans to produce 60-tonne dump trucks in India, leveraging technology from Hitachi Canada, primarily used for the mining industry, he said. Additionally, the company intends to introduce more models in India as part of the 'Atmanirbhar' (self-reliant) policy started long back, the official said. "We will invest a total of Rs 200 crore in our two plants in West Bengal's Kharagpur and Dharwad in Karnataka. This will help us stay at the forefront of innovation and increase self-reliance (Atamnirbharta) to 70 per cent in 2-3 years from the current 65 per cent," Singh said. The company is celebratin

Air India to set up flying institute in Maha to train 180 pilots annually

Tata Group-owned Air India on Monday said it will set up a training institute at Amravati in Maharashtra with an aim to train 180 commercial pilots annually. The DGCA-licensed Flight Training Organisation (FTO) at the Belora Airport will be the largest such institute in South Asia and become operational from the first quarter of next financial year, Air India said in a statement. According to the airline, the upcoming facility will be the first by any Indian airline in the country and will have 31 single-engine aircraft and three twin-engine aircraft for training. Air India said it has got the tender from the Maharashtra Airport Development Company (MADC) to establish and operate the facility for 30 years. "The FTO at Amravati will be a significant step towards making Indian aviation more self-reliant and offering more opportunities to the youth in India to fulfil their ambitions of flying as pilots. "The young pilots coming out of this FTO will fuel Air India's ambition of becomi

Tata Group retains top spot as India's most valuable brand at $28.6 billion

India's most valuable brands 2024: Tata Group nears $30 billion mark, Taj remains India's strongest brand, while HDFC's merger boosts brand to third position

Tata Electronics collab with Synopsys for design automation in Dholera

The chip design expertise from Synopsys will be utilised in Tata's upcoming semiconductor facilities in Gujarat and Assam

JLR to licence Freelander to develop EVs on Chinese JV partner's platform

Tata Motors-owned Jaguar Land Rover on Wednesday said it has signed a letter of intent with its Chinese joint venture partner Chery to license the Freelander brand to their JV for development of electric vehicles in China. Under the proposed new licensing agreement, CJLR -- a 50/50 joint venture of Jaguar Land Rover Ltd and Chery Automobile Company Ltd - - will pivot to produce an advanced portfolio of electric vehicles based on Chery's EV architecture, exclusively under the Freelander name, the company said in a statement. JLR's Freelander brand was a Land Rover vehicle which was produced between 1997-2015. It was succeeded by the Discovery Sport in 2016. "In reborn CJLR form, Freelander will offer a range of mainstream electric vehicles, initially sold in China through a distinct network but over time destined for global export," the statement said. The vehicles will be designed in collaboration with both Chery and JLR's creative teams to create a new positioning in the rapidly .

Titan lines up aggressive expansion plans for Tanishq, other brands: MD

Tata Group's Titan Company Ltd has drawn up aggressive expansion plans across its various brand verticals, especially jewellery vertical Tanishq and saree label Taneira this year, a top official said. The company is also planning to launch its exclusive ladies' handbag brand store 'Earth' sometime later this year, Titan's Managing Director C K Venkataraman said. Titan is a joint venture between the diversified conglomerate Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO). Venkataraman was talking to reporters after unveiling one of the company's Helios watch stores along with the 59th jewellery store Tanishq and the 7th Taniera store at Pondy Bazaar, here. Taniera offers the best of Indian sarees under one roof. It offers handcrafted sarees along with a range of ready to wear blouses, kurtas, short tops among others, the press release said. The launch of the new brand outlets today marks a significant milestone in Titan's ongoing commitment towards aggressiv

Vivo to open India's largest smartphone plant in Greater Noida next month

The facility in Greater Noida boasts an annual production capacity of 120 million devices and has been established with an investment exceeding Rs 3,000 crore

Air India passenger recounts dirty seats, uncooked food on flight to Newark

In a social media post, the business-class passenger alleged delayed takeoff, unclean and non-functional seats, and to make the experience even worse, he was served uncooked food onboard the flight

India's air-conditioner market likely to reach Rs 50,000 cr by FY29: Voltas

The India room air-conditioners (RAC) market is likely to grow at a healthy CAGR of 12 per cent to reach Rs 50,000 crore by FY 2028-29, Tata group firm Voltas said in its latest annual report. The competition in the Indian RAC market has "intensified" with the presence of homegrown and leading foreign players, said Voltas, a market leader in the segment. Moreover, the competitive "intensity is going to increase" further in the near future, the company said while discussing challenges and opportunities. Factors like increasingly hot summers, rising disposable incomes, and the quest for a better lifestyle with easy access to consumer finance are likely to drive growth for this room air-conditioner segment. "The Indian RAC market is expected to grow at a healthy CAGR of 12 per cent to reach a figure of Rs 50,000 crores by 2028-29," said Voltas. Voltas sold over 2 million AC units in 2023-24, which, according to the company, was the highest number of ACs ever sold by any brand in a si

Shoplifting, employee theft: Indian retail firms see rise in shrinkage

Retailers noted that shrinkage is most pronounced in apparel, footwear, and fashion categories, with the next highest rates observed in gadgets such as mobile phones, smartwatches, and headphones

S&P puts six Tata Group cos on credit watch rating with positive outlook

S&P Global Ratings on Friday said it has placed credit watch ratings with positive implications on six Tata Group entities, citing possible increase in group support. The companies are Tata Steel Ltd, Tata Motors Ltd, Jaguar Land Rover Automotive PLC(JLR), Tata Power Co Ltd, TML Holdings Pte Ltd and ABJA Investment Co Pte Ltd, S&P Global Ratings said in a statement. The rating actions came ahead of a review of the relationship between the group's holding company, Tata Sons Pte Ltd (unrated), and its subsidiaries, it added. S&P Global Ratings said its review will assess whether the potential of extraordinary support for the group entities from Tata Sons is greater than what it previously factored. "This is due to increasing operational and management linkages within the group," the rating agency said, adding that Tata Sons has a record of supporting group entities in events of stress. The group provided material extraordinary financial support to entities such as Tata ...

Tata Group in talks to acquire a majority stake in Vivo's India unit

On June 12, a report emerged that the Centre may okay a joint venture between Indian and Chinese companies if the Indian partner holds a majority stake of at least 51 per cent in the firm

India's consumer market represents long-term opportunity: N Chandrasekaran

India's consumer market represents a long-term structural opportunity, driven by population, a growing middle class, rapid urbanisation, increasing disposable incomes and raising aspirations, Tata Consumer Products Ltd Chairman N Chandrasekaran said on Thursday. The Tata group's FMCG arm is well positioned to capitalise on the significant opportunity, he said, while addressing the annual general meeting (AGM) of TCPL. Chandrasekaran said the India economy has been growing "very strongly" and the current momentum continues to be high. India is likely to maintain similar growth momentum in the coming years, he said, adding that the global economic landscape has been rather volatile with the geopolitics reshaping supply chains, energy security, and overall resilience. The baseline forecast for the world economy is to continue to grow over 3 per cent during 2024 and 2025. However, "India has been growing very strongly with the economic growth rate of 8.2 per cent for the fiscal 2023-2

Chargesheets to cabin crew can be detrimental: Air India Express Union

The Air India Express Employees Union (AIXEU) has termed the alleged issuance of charge-sheet by the airline's management to around 200-odd cabin crew members for reporting sick during last month's strike as unfortunate and unfair labour practice. In a letter to Air India Express chief Alok Singh on Sunday, the Union also warned the Tata Group-run airline's management that such actions could be detrimental to the interests of the company and its passengers. According to Union sources, the charge-sheet was issued to around 200 cabin crew members on June 5, with a deadline of 72 hours to file a response. Around 200 cabin crew members of Air India Express went on strike on May 7, to protest against the alleged mismanagement in the airline, resulting in cancellation of hundreds of flights. Consequently, the airline management terminated the services of 25 cabin crew members and warned the others to join work or else face the same action. Three days later, the strike was called off aft

Air India: Now lock your flight rate for two days by paying nominal fee

Air India's 'Fare lock' feature allows passengers to secure a fare for two days by paying a nominal fee, allowing them to confirm their travel plans

Air India Express taps on growth, group synergies: MD Aloke Singh

As it looks to tap the growth opportunities and group synergies, Air India Express Managing Director Aloke Singh on Wednesday said the airline will focus on the cost side and transformation plans in 2024-25. Air India Express is in the process of merging AIX Connect, formerly AirAsia India. "In 2024-25, a lot of synergies will be unlocked... there will be a laser focus on the cost side," Singh said. The two airlines are part of the Tata Group, which is also in the process of merging Vistara with Air India. There will be cross feeds between Air India long haul flights and domestic short haul flights, he said and added that there is substantial growth coming in. With the network and the new fleet coming in, there will be a significant upside on the revenue and cost side, Singh said. Speaking at the CAPA India Aviation Summit 2024 in the national capital, Singh also said that for the next five years, he does not see any issue of bilateral flying rights impacting its growth.

2,500 job cuts inevitable in Tata Steel's UK operations: CEO Narendran

Loss of jobs for around 2,500 workers at Tata Steel's operations in the UK, which are in a transition phase, is "inevitable", the company's CEO T V Narendran said. Fear of job losses has attracted criticism of the workers' unions and they are continuously protesting against the company in the UK. India-based Tata Steel owns the UK's largest steelworks of 3 million tonne per annum (MTPA) at Port Talbot in South Wales and employs around 8,000 people across all its operations in that country. As part of its decarbonisation plan, the company is shifting to low-emission electric arc furnace (EAF) process from the blast furnace (BF) route which is nearing its end of life cycle. Speaking to PTI, Narendran said the transition to EAF with the UK government aid will make the company competitive in terms of reduced production cost, and also help in reduction of 5 million tonnes of Co2 per year. "But all this involves 2,500 job losses and that is what the unions obviously are not happy with.

Air India's Delhi-Vancouver flight faces delay, rescheduled for Sunday

Air India's flight from the national capital to Vancouver, which was to take off early Saturday morning, faced an inordinate delay due to technical issues. The airline said the flight has been rescheduled and is now expected to depart early morning on Sunday. In a span of three days, this is the second instance of an Air India ultra long haul flight getting delayed for long hours. After a delay of more than 30 hours, the airline's Delhi-San Francisco flight, that was originally scheduled to depart at around 1530 hours on Thursday, took off at 2155 hours on Friday. "AI185 scheduled to operate Delhi-Vancouver of 1 June was delayed because of technical issues and subsequently due to crew coming under the mandatory Flight Duty Time Limitations," an Air India spokesperson said in a statement on Saturday. The spokesperson said the flight is expected to leave early morning on June 2 and regretted the inconvenience caused to passengers due to the operational disruption. The flight was ..

Delhi-San Francisco flight delay: A-I apologises, offers $350 voucher

Air India has apologised and offered a travel voucher of USD 350 each to the passengers of the San Francisco flight that took off from the national capital after a delay of more than 30 hours. There were 199 passengers in the flight, according to a source. After a delay of over 30 hours, the flight took off from the national capital at 2155 hours on Friday and landed at San Francisco at 1245 hours (IST) on Saturday. The flight duration was around 16 hours. "Please allow me to sincerely apologise, on behalf of Air India, for the extended delay in bringing you to San Francisco, which was caused by several technical delays and other operational constraints," Air India Executive Vice President and Chief Operating Officer Klaus Goersch said in a letter to the flight's passengers. As a gesture of apology, Air India has offered a "travel voucher worth USD 350" for future travel with the airline, the letter dated May 31 said. The passengers will also have the option to credit the amount .

No better story than steel in reviving private capex: Tata Steel MD & CEO

In India, we expect the EBITDA per tonne to be a little lower though the spreads have improved a bit because it's a quarter where we have a lot of shutdowns, said TV Narendran